Cairo-based fintech startup Octane has secured 5.2 million in a funding round led by Shorooq Partners, Algebra Ventures, and Elsewedy Capital Holding. Founded in 2022, Octane provides a digital payments and analytics platform designed specifically for fleet operators and is now gearing up for expansion across Egypt and the broader Middle East and North Africa MENA region.
At the heart of Octane's offering is a closed-loop digital wallet that streamlines all on-road fleet expenses-such as fuel, maintenance, parts, and petty cash-into a single platform. Unlike traditional fuel card systems, Octane's platform delivers real-time visibility and control, enabling fleet managers to minimize waste, identify misuse, and optimize operational costs. The company reports that its clients often achieve double-digit reductions in avoidable fuel and mileage expenses.
Octane's wallet currently supports payments for diesel, gasoline, compressed natural gas CNG, and is actively piloting electric vehicle EV charging at select sites. The platform is also enhanced with AI-powered analytics, spending controls, and fraud detection tools.
"We're focused on giving fleets the rails they need to manage day-to-day payments with precision," said Amr Gamal, co-founder and CEO of Octane. "This funding allows us to expand our acceptance network, grow our AI-powered capabilities, and stay ahead of the curve in the shift toward cleaner, more efficient mobility-all without adding complexity for our customers."
Since launching in September 2022, Octane has built Egypt's largest fleet-payment acceptance network, covering more than 2,400 petrol stations and 400 CNG outlets. The company serves over 1,600 corporate clients, collectively managing a fleet of approximately 250,000 vehicles. Octane now employs 200 staff and recently earned an EEA Award for Rising Entrepreneurs of the Year.